Point72 Asia Singapore Pte. Ltd. Sells 796 Shares of Innospec Inc. (NASDAQ:IOSP)

Point72 Asia Singapore Pte. Ltd. cut its holdings in Innospec Inc. (NASDAQ:IOSP) by 45.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 944 shares of the specialty chemicals company’s stock after selling 796 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Innospec were worth $117,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. TFO Wealth Partners LLC boosted its position in Innospec by 29,800.0% in the fourth quarter. TFO Wealth Partners LLC now owns 299 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 298 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Innospec in the 1st quarter worth about $66,000. CWM LLC grew its position in Innospec by 239.6% during the second quarter. CWM LLC now owns 635 shares of the specialty chemicals company’s stock valued at $78,000 after buying an additional 448 shares during the period. Motco purchased a new stake in Innospec during the first quarter worth about $132,000. Finally, EntryPoint Capital LLC bought a new stake in Innospec in the first quarter worth about $147,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Innospec from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th.

Insider Transactions at Innospec

In related news, CFO Ian Cleminson sold 3,398 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $114.74, for a total transaction of $389,886.52. Following the sale, the chief financial officer now directly owns 12,996 shares in the company, valued at approximately $1,491,161.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.52% of the company’s stock.

Innospec Price Performance

NASDAQ:IOSP opened at $114.09 on Friday. The company has a market capitalization of $2.85 billion, a P/E ratio of 19.37 and a beta of 1.08. The business has a fifty day simple moving average of $114.25 and a two-hundred day simple moving average of $121.37. Innospec Inc. has a 1 year low of $95.69 and a 1 year high of $133.71.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.02. Innospec had a return on equity of 14.15% and a net margin of 7.90%. The company had revenue of $435.00 million during the quarter, compared to analyst estimates of $468.73 million. During the same quarter last year, the firm posted $1.28 EPS. The firm’s revenue for the quarter was down 9.5% on a year-over-year basis. As a group, analysts anticipate that Innospec Inc. will post 5.95 earnings per share for the current year.

Innospec Company Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.